Trump Gets SLAPPED IN HIS FACE by PISSED OFF Market

Summary

The MeidasTouch Podcast: "Trump Gets SLAPPED IN HIS FACE by PISSED OFF Market" – December 29, 2024

In this compelling episode of The MeidasTouch Podcast, the Meiselas brothers delve deep into the tumultuous relationship between former President Donald Trump, Big Tech, and the broader economic landscape. With their signature blend of incisive analysis and brotherly banter, Ben, Brett, and Jordy Meiselas unpack the latest developments impacting markets, technology, and everyday Americans.

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1. Big Tech's Cozy Relations with Trump and Market Repercussions

Timestamp: [01:11]

The episode kicks off with a critical examination of Big Tech’s intricate ties with Trump. The Political Commentator highlights how influential tech companies appear to be aligning themselves with Trump, potentially in anticipation of government bailouts. He remarks:

“Perhaps it's cozying up to Donald Trump because it wants itself to have a bailout. Perhaps that's one of the things that's going on.” ([01:50])

This alignment is contrasted against recent market trends, where major indices showed significant downturns:

• Dow Jones: Down nearly 1%
• NASDAQ: Down approximately 1.5%
• S&P 500: Down 1.11%

Citing CNN’s headline, “Markets stumble as Wall Street sells off Big Tech,” the commentator emphasizes the vulnerability of the stock market due to overvaluation in Big Tech sectors.

2. Stock Market Volatility and Leadership Impact

Timestamp: [02:30]

The discussion transitions to the stock market’s recent performance, drawing attention to how Trump's public engagements have seemingly influenced investor confidence. The commentator references Trump’s appearance at the New York Stock Exchange, suggesting his rhetoric may have contributed to market instability:

“Donald Trump was there and brought out all of his kind of propaganda stuff.” ([03:15])

Furthermore, Trump’s interactions with financial experts like Jim Cramer are critiqued for undermining investor trust. When questioned about stock market investments, Trump’s ambiguous responses are portrayed as detrimental:

“Donald Trump had also said he can't control the prices. It's gonna be too hard to bring down the price of goods.” ([04:00])

3. The Dominance and Risks of the "Magnificent Seven"

Timestamp: [04:45]

A significant portion of the episode is dedicated to the so-called "Magnificent Seven"—a group comprising Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. These tech giants have been pivotal in driving market gains this year, especially with the surge in artificial intelligence investments. However, the commentator warns of the inherent risks:

“If few of these companies fail to beat an elevated bar for positive surprises, there is a risk they would also fall together,” said Keith Lerner, chief market strategist for Truist Wealth. ([05:30])

This concentration poses a threat to market stability, as the heavy reliance on a handful of stocks makes the market susceptible to significant downturns should these companies falter.

4. Cryptocurrency’s Declining Rally Amid Economic Uncertainties

Timestamp: [05:50]

Shifting focus to the cryptocurrency market, the commentator notes the cooling off of Bitcoin’s late-year rally. After peaking at $106,000, Bitcoin has retraced to around $94,000. This decline is partly attributed to profit-taking and the faltering hopes that a Trump administration would favor a crypto-friendly environment:

“The cryptocurrency had dropped to around $94,000 by late afternoon on Friday after topping 106,000 earlier this month in hopes that Trump would usher in a crypto-friendly administration.” ([06:10])

5. Listener Feedback: Rising Costs and Economic Strain

Timestamp: [07:55]

In the second segment, the podcast incorporates listener testimonials that paint a grim picture of rising living costs under Trump’s anticipated administration. Comments highlight soaring prices in essential goods:

• Milk: Increased from $2.89 to $4.09 per gallon
• Bread: Elevated to $4 per loaf
• Eggs: Rising to $5 per dozen

One listener shares:

“Trump hasn't even taken office yet and they're already raising prices. Make that make sense. Hashtag greed.” ([08:30])

These personal accounts underscore the tangible economic pressures faced by Americans, fueling discontent and skepticism towards Trump’s economic promises.

6. Corporate Price Gouging and Political Accountability

Timestamp: [10:15]

The episode delves into the phenomenon of corporate price gouging, attributing it to unregulated business practices encouraged by Trump’s policies. The commentator accuses Trump of enabling corporations to prioritize profits over consumers:

“They're the CEOs and venture capitalists in private equity who are screwing the country. That's what's going on.” ([11:00])

Listener anecdotes further illustrate the widespread impact, with one mentioning:

“I came home with four bags of groceries last week. Only one package of meat, ground turkey and no sweets or cleaning products. The cost was $198.” ([12:30])

7. Predicting Economic Outcomes and Policy Implications

Timestamp: [13:20]

Drawing parallels with international examples, the commentator speculates on potential economic fallout if Trump's administration adopts similar austerity measures seen in countries like Argentina:

“Argentina, Javier Milei... how MAGA wants to impose austerity measures on Americans.” ([14:00])

He warns of a possible future where Americans may need to seek cheaper goods across borders, echoing the economic hardships witnessed in neighboring nations.

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Conclusion:

This episode of The MeidasTouch Podcast offers a critical perspective on the intertwining of political leadership, corporate strategies, and economic outcomes. By blending listener experiences with expert analysis, the Meiselas brothers provide a comprehensive overview of the current economic challenges facing Americans and the potential implications of a Trump-led administration on both markets and everyday life.

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For more insightful discussions and updates, tune into The MeidasTouch Podcast every Tuesday and Friday morning, and catch the live video episodes on Mondays and Thursdays at 8 PM ET/5 PM PT on the MeidasTouch YouTube channel.

Transcript

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[Political Commentator]

You know, to all the big tech out there, you're going to f around and find out, I mean, Donald Trump was sending a message to Elon Musk publicly on Trump's social media platform that Bill Gates asked him, go and meet at Mar a Lago. And Donald Trump's like, elon, when are you coming back to Mar a Lago? And we've seen big tech show up at Mar a Lago and kiss the ring. Well, here's the headline. Markets stumble as Wall street sells off Big Tech. Perhaps Big Tech's realized with all of its stock buybacks and all of its kind of gimmicks that it is going to be exposed. So perhaps it's cozying up to Donald Trump because it wants itself to have a bailout. Perhaps that's one of the things that's going on. I mean, look, take a look at the stock market again on Friday. The Dow Jones was down almost a percent. It was down 333 points. The NASDAQ was down almost 1.5%. It was down nearly 300 points. The S&P 500 was down 1.11%, down 66.75 points. And as CNN reports, markets stumble as Wall street sells off big tech. I did a report earlier this week about how all of these companies have valuations that far exceed what they actually should be based upon their earnings, based upon their revenue, and based upon their EBITDA or profits. Here's the headline from cnn. Markets stumble as Wall street sells off big tech. US Stocks ended Friday in the red, closing out a la despite a year of historic highs. Hmm, I wonder what was happening earlier in the year with those historic highs. Who was in power at that point when we would be doing these reports and we would be hearing another record close? The Dow, the Nasdaq, the S and P is setting another record. By the way, y'all remember, what was it two weeks ago or three weeks ago at this point when Donald Trump went to the New York Stock Exchange and all three of the indexes, the Dow, the S and P and the Nasdaq went down when Donald Trump was there and brought out all of his kind of propaganda stuff. And then Donald Trump was asked by Jim Cramer, the CNBC business host, or he's masquerading as that. So, Donald, should American workers invest in the stock market? Y'all remember what Trump said? Trump said, I don't know, it was a softball question. Should American workers invest in the stock market? You are Mr. Accordion Hands. You've made all of these promises. Trump goes, I don't know, I'd be worried if there was a dip. They're gonna get hurt. If there's a dip, they're gonna be hurt. That's the message you're sending to the markets. Seriously. Donald Trump had also said he can't control the prices. It's gonna be too hard to bring down the price of goods. And look, since the election, egg prices are up, up, up, mortgage rates are up, up, up. That's not a good thing. You want that to be down. Donald Trump already lying about his promises and we gotta hold him accountable. Let's just take a look at this article. The Dow was lower by 333 points. Shares of Tesla closed lower by around 5% while Amazon Alphabet, which is Google, Microsoft and Nvidia, lost about 2% more. Most of those people have their CEOs Kiss the Ring at Mar a Lago. The Magnificent Seven, a group of high performing tech stocks, Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla has accounted for more than half of the gain so far this year as they benefit from intense investor focus on ways to play the artificial intelligence boom. According to S and P. Dow Joe's Indices Analysts have long cautioned that the market's reliance on a handful of names exposes the stock market to potential trouble should the group stumble. Quote if few of these companies fail to beat an elevated bar for positive surprises, there is a risk they would also fall together, said Keith Lerner, chief market strategist for Truist Wealth. I would prefer a broader market where mega cap growth stocks do well and other segments are doing well. So if one area falters, another segment picks up the baton. Bitcoins tremendous late year rally also fizzled as traders looked to profit taking. The cryptocurrency had dropped to around $94,000 by late afternoon on Friday after topping 106,000 earlier this month in hopes that Trump would usher in a crypto friendly administration.

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[Political Commentator]

Meant he did that deal with the Chinese crypto company, that guy who ate that banana for $6 million who invested in Trump crypto, basically giving Donald Trump a profit of about $15 million while that dude was under investigation by the SEC. Remember this headline from a week ago or so? Trump now says bringing down grocery prices as he promised will be very, very hard. Really? Seriously? I mean, again, how MAGA people can look at this? While Donald Trump is in Mar a Lago bragging about Bill Gates showing up and Elon Musk is calling the MAGA base the R word over and over again, he's saying that they're dumb and they're stupid and they're the R word and that they shouldn't have a voice and that they should just listen to him and his views, that he needs immigrants from India to fill these jobs because Americans are not smart enough. Elon and Vivek Ramaswamy are saying all the while that Donald Trump is doing this. By the way, a bunch of you at the Midas Mighty shared your own personal experiences with me. In one of the last videos I did. I thought I'd share it. Lee writes, and milk a month ago at Walmart was $2 and 89 cents a gallon. I purchased milk last night. And bread. The milk was $4 and 9 cents a gallon and the bread was $4 a loaf. My point is, Trump hasn't even taken office yet and they're already raising prices. Make that make sense. Hashtag greed. It makes Trump sense because this is what happened during the first Trump administration. It was obvious what was happening. It was price gouging as corporations run wild right now and they got the green light from Donald Trump. That's why Trump's saying he can't control the prices. It's too hard. His buddies, his cabinet, worth nearly a trillion dollars, they're the price gougers. They're the private equity that's buying up the homes and stopping the supply so that the prices go up. They're the problem. They're the CEOs and venture capitalists in private equity who are screwing the country. That's what's going on. Another commenter said to me, ben, I don't see eggs for any less than $4 a dozen. Grocery prices are only rising in my area. I will be making changes to my 401k this week into ultra conservative low risk investments. Trump decimated my 401k his last term because I didn't act proactively, but reactively. It was too late. The damage was done and I lost 30% of my retirement savings thanks to Joe Biden for Bringing it back. But since Trump got elected, one small little bump during the first couple of days following. But now it's back down and stagnating like the last time he was in office. I like this one from Lars. This is so true. Remember, just a few weeks ago, Trump didn't even know what the word groceries meant. And when he found out, he tried to implicate the he himself had come up with it. He tried to say he made up the word groceries. So do you think he's going to lower the price of something that he thinks he just invented if he doesn't know what the word groceries meant? Um, another commenter over here says the following. I came home with four bags of groceries last week. Only one package of meat, ground turkey and no sweets or cleaning products. The cost was $198. I did buy eggs and the price was $5 per dozen, so I bought four dozen since this was a lower price than normal. They were free range and organic eggs. The same four bags of groceries back at the beginning of 2021 would have cost between $90 and $100. Judy goes, There was a man watching his grocery bill going up. He started complaining to me about Biden. I told him, you better do some research. Our prices were better than any nation until Trump won and started running his pie hole. Even showed him a Midas short. He didn't believe me. We are the resistance. We will not obey. Good trouble times. Slava, Ukraine Another commenter writes, you cannot easily wean the egg industry off higher prices. Once they get used to higher rates of of return, it soon becomes incorporated into their balance sheet. When's the last time you got a rebate or a rate reduction from your auto insurance, your utility bills, or your healthcare provider? Unregulated business practice follows the pirate code. Take all you can get, give nothing back. And Deborah writes to me, prices are going up right in front of our faces. They're laughing all the way to the bank. You know, I showed a photo in one of the last videos I did of people in Argentina lined up the same way. There were food lines when Trump was in office. During the first Trump administration, the cars were lined up of people going from Argentina to Chile to buy cheaper goods in Chile. And this person goes, and by the way, the leader of Argentina, Argentina, Javier Milei, he's like the poster child for how MAGA wants to impose austerity measures on Americans. They want to do that chainsaw austerity measures that Javier Milei did. And this person makes a great point that Pic of Argentinians flocking to Chile. That might be a glimpse of what Trump could do here in the near future. It might be Americans flooding into Mexican border towns to buy cheaper goods. So I thought it was important that I share that with you. Here are the lines right there. And just take a look. This is Christmas at Mar a Lago right here. And so to all the magas out there in Grand Rapids, Michigan, or Newcastle, Pennsylvania, or wherever, right? I mean, you think you're going to be invited to this party right here? You think this is your. You think these are the people who are with you? Or you think these are the people who are laughing at you? What do you, what do you think about that? And then ask yourself, why is it that Donald Trump just appointed oligarch after oligarch to his cabinet? You think they're looking after you? Really? Really? Thanks for watching Hit subscribe let's get to 4 million together. Love this video. Make sure you stay up to date on the latest breaking news and all Midas by signing up to the Midas touch [e-mail] newsletter.

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